So far the debate has been characterised by bias, distortion and exaggeration, with a lot of people confused as to what it exactly means if we stay or go. Of course, it’s a topic on everyone’s mind who are currently residing in the United Kingdom, and they’re all considering the pros and cons of a vote in favour of Brexit.
But what about the UK citizens who live abroad? What would Brexit mean for expats living in the UAE? There’s no denying it would be an incredible change for the UK, and one that not everyone is really fully clued-up with.
As the population of the UK prepare to head to the polling station, along with qualified expats who registered in time, we’ve taken a look at exactly how Brexit will affect the expatriate population here.
If Britons decide to exit the EU, there will be repercussions when it comes to the aviation industry and passenger flow between Europe and the Gulf as a large number of passengers travelling with Gulf airlines derive from Europe. Not only that, but prices may rise within Europe from the UK with currently affordable airlines.
There’s also a risk that the prices of a holiday to places such as the Mediterranean and other popular EU destinations will rise if Brexit occurs.
If the value of Sterling falls as a result of Brexit, while it’s no good for UK citizens over there, those who are paid in Dirhams will benefit greatly. The conversion from Dirham to Sterling used to be as high as Dhs7 to £1. But if Brexit occurs, transferring around £1,000 could drop to around Dhs5,000 or so back to the UK…
It’s highly unlikely that UK citizens and property owners will be penalised if Brexit happens, however if it does, Britons with a less appealing financial profile may be charged at a higher interest rate and would need to place a higher deposit down to secure a property.
Of course, there’s no denying that with British buyers owning lots of properties in countries like France, Spain and Portugal, so it’s highly unlikely banks will want to ruin existing demand.
Returning to the UK
If you’re planning a permanent flight home, whether Brexit occurs or not, there are a number of steps you must follow to ensure your repatriation is smooth and successful. Be prepared for change no matter what, the UK will no doubt be a different place to the one you left after living abroad.
Any Briton wishing to move and live in any EU country may need to apply for a visa to live, work or retire following Brexit, similar to how it is in the UAE. via expatwoman.com